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5/5, 10:01 PM (Source: TeleTrader)
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Wall Street closes mostly higher on pandemic recovery

United States equity markets closed mostly higher on Wednesday as the government signaled recovery from the coronavirus crisis, while Federal Reserve officials, Loretta Mester and Eric Rosengren confirmed that high accommodative policies will remain "for some time". CDC officials also shared that should the vaccination pace remain the same, there will be a sharp decline in COVID-19 cases by July.

The Nasdaq 100, however, turned to losses intraday with Peloton being the worst performer after announcing a recall of all treadmills due to injury and one death claims. American vaccine manufacturers also experienced a decline in the stock markets after the government decided not to grant COVID-19 vaccine patent protections.

The Dow gained 0.29% with Dow Inc climbing by 2.79%, while the S&P 500 closed with 0.07% in the green as Caesars Entertainment jumped by 7.80%. Meanwhile, the Nasdaq 100 lost 0.30%, led by Peloton plummeting by 14.56%. The euro slid by 0.08% against the dollar to trade for $1.20041 at 3:58 pm ET.

Breaking the News / LH